@HedgeyeRetail Not a fan of the acquisition given the multiple and multiple of $VSTO. Bad capital allocation IMO.
However, at 3-4x LTM EBITDA. I think it’s a bad short. Ammo biz likely worth what the entire company trades at including this acquisition.
However, at 3-4x LTM EBITDA. I think it’s a bad short. Ammo biz likely worth what the entire company trades at including this acquisition.
@HedgeyeRetail Demand side: 16M new entrants over COVID, hunting trends, self-defense, 2A news, social unrest, rifling growing high school sport.
Sadly, don’t see the social/political backdrop ending any time soon. Wish I was more optimistic.
Sadly, don’t see the social/political backdrop ending any time soon. Wish I was more optimistic.
@HedgeyeRetail Supply side: Lake City ammo plant news potentially stopping commercial sales (via $POWW call) & Russia ammo embargo (10% of ammo sales in US)
I like the some of the consumer (outdoor) brands too and their end markets: Bushnell (Golf) and CamelBak (Hiking + Cycling)
I like the some of the consumer (outdoor) brands too and their end markets: Bushnell (Golf) and CamelBak (Hiking + Cycling)
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